KLM gets 3.4-billion-euro Dutch bailout

Agence France-Presse

This is AI generated summarization, which may have errors. For context, always refer to the full article.

KLM gets 3.4-billion-euro Dutch bailout

Marco Spuyman

The Dutch government says it will provide KLM with a guarantee for bank loans of up to 2.4 billion euros and a direct loan from the state of up to one billion euros

THE HAGUE, Netherlands – The Dutch government on Friday, June 26, approved a 3.4-billion-euro ($3.8-billion) bailout to prop up KLM through the coronavirus pandemic.

The aid package comes after Paris pledged 7 billion euros for partner airline Air France after the outbreak brought international air travel to a near-standstill.

“The aid consists of a guarantee for bank loans of up to 2.4 billion euros and a direct loan from the state of up to one billion euros,” a Dutch government statement said.

Air France-KLM said the loans would help the airline “overcome the crisis and prepare for the future.”

“These loans will enable KLM to weather the current COVID-19 crisis and prepare for the future,” it said.

The Dutch government announced in April that it would give KLM an aid package of between 2 and 4 billion euros.

KLM and Air France are among a host of European airlines given state support to get through the pandemic.

Germany’s Lufthansa is getting 9 billion euros from Berlin to save Europe’s largest airline group from bankruptcy. – Rappler.com

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Loading
Download the Rappler App!